that's where google sneakers and facebook amazon they gained such strength, they became so big monopolies hold on to the end. that's for this advantage. but if you ask what the geopolitical and climate logic is stronger or what means the interests of the shareholders of these five corporations, i would still bet on nation states. therefore, i think that the age is here, but of centralized control over social networks on a global scale. it ends, of course, but it has not yet passed. here is the phase. yes, they are still very strong, of course, of course, but now they are trying to cope with the american national state. let's see how they do. come on wholesale, we will use or chinese experience, of course, the alarm is the largest uh it company in

of the president for digital and technological development, told ntv that microsoft google and facebook amazonower, they have gained such power, they have become such big monopolies that they hold on to the end. here's your advantage. but if you ask what is stronger than the geopolitical climate logic. or means the interest of the shareholders of these five corporations. i would after all, he set national states to create social networks with national algorithms. the work is difficult. but, perhaps, this is a long way that has passed, for example, china is ready to overcome it, russia, see today at 0:00:35. minutes immediately after the program, there is now a short advertisement and in a couple of minutes we will talk about the launch of a new oil and gas complex in yakutia, which will increase the supply of resources to the far east, do not switch. and you and you and me and you and each cash loan with a fixed rate of 8.9 each. this discovery for purchases. in lenta the whole of october in our vast country. there is a place for everyone for me, too, should be the center of the siberian tiger

that's where crosses in google facebook amazon they have gained such strength, they have become such big monopolies that they hold on to the end. that's for this its advantage, but if you ask what is stronger geopolitical and climatic logic. or does it mean the interest of the shareholders of these five corporations, i would still put nation states, therefore, i think that the age is here, but centralized control over social networks on a global scale, of course ends. well , she hasn't passed yet. here is the phase. yes, they are still very strong, of course, of course, but well, now it is trying to cope with the american nation -state. let's see how they succeed, we will use either the chinese experience, of course, it companies. or do we see it as almost inevitable that sovereign countries will demand appropriate control, and we see that there is no connection between the control policy of social networks and the type of political regime in a particular country, that is, but with equal zeal, national control builds iran builds turkey builds france or builds brazil nikolaevich thank

apple, meta, amazon, alphabet microsoft down $670 billion from its all-time high, similar to facebook, amazon slightly less apple is down under $500 billion, alphabet, $464. so this is what like $2.5 trillion of market cap loss from their all-time high. i mean, it seems hard to believe with just five stocks. by the way, microsoft's market value loss, just by itself, if it was its own company would be the seventh or eighth largest company by market cap in the s&p 500. i think that's random, but interesting, but also, random but painful. tyler mathisen, take it away and give us a cnbc news update >> i'm going to try. thanks very much a big surprise at the trial to determine whether the parkland school shooter should get the death penalty. the defense for nikolas cruz unexpectedly rested this morning after calling about 25 witnesses. defense lawyers had said 80 would testify. the judge slammed the lead defense attorney for unprofessional behavior and wasting the time of the court and the jury proceedings have been delayed for nearly two weeks to let prosecutors prepare their rebuttal case. >>> s

do google and facebook and amazon and apple still exist? katie: i think they will still exist. decades, those companies will still be around. i think this new ecosystem is going to represent a challenge to them. i do think those entities, decentralized forces are coming and will cut into the entity's profits and revenues. emily: if you could belong to any altcoin tribe, what would it be? katie: there is no way i am answering that because i will get told -- trolled on twitter. emily: book or podcast you are binging now? katie: wheat craft. emily: something that brings you joy? katie: i miss swimming. my best of comes to me when i moving. emily: career philosophy? katie: do a job where you know 50% of the job and you have to learn 50% of the job. that goes back to no comfort in the works own. millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happ

actually aspect owned we spend so much time online and we own none of that time we give it to facebook and amazonause we don't understand it, we really surrender it that's what nfts represent it's the market part that's the least important or least interesting important asset. >> nothing comes for free in this world, that's for sure. nice speaking with you yat sui of animoca >>> a quick look at the market after that very hot cpi inflation print. we had a hot one in the uk 9.9 percentage points, shy of double digits. still 9.9 percentage points head line uk's cpi line the ftse the underperformer down two-thirds of a percentage point. france raising some of the losses earlier, getting close to flat one name you'll be watching is uniper because there are talks the german government may be looking to nationalize that company. so that is putting some downward pressure on utilities today. >>> as for u.s. futures, the picture seems to be slightly more positive after yesterday's deep drawback session. dow jones opening up 160 points higher, nasdaq, 85 points higher. >> they're trying to figure out what t

and amazon -- and amazon and facebook with -- you think about aws and amazon, i don't think they wanto lose the star. it is a possibility. certainly you can make a case for many tech companies they could consider that but i think what we are dealing with is a global tech storm that is impacting everyone. this is not going to change anything in the short-term. investors right now are out of the space. they went to see signs of recovery. -- they want to see signs of recovery. this is a broader topic that goes beyond facebook. i don't think a split off is in the works. emily: but what do they have that meta-does not have? >> amazon has a powerhouse and a software. aws is their biggest source of growth. it is their most durable piece of the business. why would you want to lose that business and spin it off? we know the numbers. it is embedded in the business. i think the challenge for instagram is we do not know all the fact numbers so that is what is hard to describe a value for it. i think that is the difference at amazon. for microsoft, many of their calls are intertwined. -- many of t

we were nevertempted by facebook or amazon, but apple got very close >> we have two minutes to go ini will point out we're seeing a little recovery here in the major averages you have now real estate joining consumer staples in positive territory on the day for the week, everybody is down. but it's happening right now there's the dow. you can see we're climbing a little here, back towards the flat line into the close down 124 on the dow. the biggest drags are boeing, goldman sachs and chevron. have you been adding on these weak days to some of your favorite positions what's the strategy for you? >> it's to add to the names that are most below intrinsic value we're finding that clustering in housing-related names and in finals goldman sachs adding to trading right at that one times book level. some of the home related names that we love, mohawk carpets, anything related to housing has gotten very cheap here financials, northern trust getting very cheap here. >> you're adding to housing stocks as mortgage rates go above 6% and the fed continues it's not stopping any time soon? >> becau

facebook. we were an early investor in amazon but we sold our stock too soon. carlisle has made thousands of investments over the years. we have been around for 35 years. if you do not have bad deals you are not doing good investing, because not everything works out even forewarn buffet. >> the governor of virginia, glenn youngkin. >> he was at our firm for about 25 years. it did a very good job for us. >> frank, daytona beach, florida. >> i am calling it because i went to ask you if you think that nonfiction or fiction literature is more important to society, and as a follow-up, what is your favorite fictional book? >> i tend to read more nonfiction than fiction to be honest, but i cannot say that fiction is insignificant. fiction books have had more impact on society than many other nonfiction books. uncle tom's cabin had an enormous impact on society. i think gone with the wind had an important impact on society as well. fiction books have done incredible things to change the attitudes of society. nonfiction books have a big impact as well. >> how to invest,

you're going to need less software licenses, enterprise licenses next year you've got google, facebook, amazonthey're all freezing or laying off people. that's going to ultimately go back into the enterprise hardware names as well and finally, internet advertising, don't forget, you've got disney and netflix b both launching ad-supported tiers coming up. so, those are two areas we're looking to put our shorts back on or again put them on as hopefully the market rallies over the course of the next week >> speaking of enterprise, that's the shoe that we haven't had drop yet and i'm wondering if you think that is just yet to come i mean, if unemployment is going to tick higher and we're getting corporate warnings and issuances of the desire to lay people off, i mean, isn't it only a matter of time before we start hearing about softness on the business side of things >> that's exactly right, melissa, and that's where a lot of investors are hiding, because they sort of bought into this narrative of, oh, software's going to eat the world, which it is, but when you go into a recession, as corporation

the same goes for facebook, amazon, and apple. the real threat is that when a monopoly controls information in a democracy, it controls the results of elections. that's the threat that big tech poses to america. and i'm afraid that america may not be able to withstand that threat. finally, my friends ask, why give money to the biden f.t.c. and d.o.j.? america is about to give republicans control of the oversight and appropriations process. americans expect us to use those levers of power responsibly and effectively. it's not too much to ask for congress to walk and chew gum at the same time. we can create competition for big tech and level the playing field, and at the same time make sure our government treats everyone in this country fairly. with that, mr. chairman, i urge my colleagues to vote for this bill. i yield back. the speaker pro tempore: the gentleman from ohio reserves. the gentleman from new york is recognized. mr. nad the gentleman from ohios recognized. mr. jordan: i yield three minutes to the gentleman from oregon,

alphabet, down 6% on the day, $85 billion in market value gone same stories for the likes of amazon, facebookent meta company and nvidia as well can see here billions and billions shaved off the market values there so let's dig through all the rubble in tech and commerce services joining me now co-founder of arete and analyst richard kramer richard, the likes of this trade have been volatile now for years whenever there's a downturn, but they've also led to the upside technology is a favorite sector among investors, should it remain that way? >> well, i think technology broadly is going to remain a favorite sector among investors, but what we're seeing is a separation of the wheat from the chaff. a lot of the companies are in better shape than people give them credit for, the likes of apple, microsoft, or google are all in a position where they have a large cash file and are buying back their own stock, and those are the companies that i think will take proactive action, will know how to restrict their clause phrases as we've seen through the pandemic, and they'll be fine. what i would be wor

of the big the names you know and may own and the ones that control the market apple, amazon, microsoft and facebooke piled on business losses this year. that is not editorializing this is the combined market loss for amazon and apple it is nearly $3 trillion i know that seems impossible we're talking five stocks. it is true here's the math. microsoft has lost the most total value. down $672 billion. down $100 a share in the year. facebook with the same meta was a $380 stock a year ago. now it is $150m amazon lost $573 billion from investors since last november at $188 a share it is $127 alphabet lost $464 billion add those up carry the one. $2.8 trillion in lost market value. that is probably more value lost than the total value of most global stock markets oh, those five names control most of the big etfs you may own. if they go down, it is hard, maybe impossible, for the overall market to go up. when they go down big like did, it will take others with them. tuesday was responsible for one-fifth of the total lost. $489 billion in market cap lost in five companies in just a couple hours of trading.

the american people intuitively understand the big tech platforms whether it's google, apple, amazon, facebooknd they understand that the 21st century equivalent of the old school 18, 17th century townsquare. it defies common sense to let these companies censor and put their thumbs on the scale and any which way. i'm happy like jim jordan were there meeting with tim cook i have not heard about a detail of what comes out of it. apple tends to get off the hook in these conversations but we shouldn't forget it was apple who nakedly colluded for my perspective with amazon. apple was complicit, when parler went away from my perspective, that was the death of the so-called build your own talking point that was the death for that absolutist approach to this issue. it's good that they're involved in the discussions but will see what happens obviously. with the surveillance campaigns overseeing reports of facebook spying on users, we also got the situation of censorship where the fbi called twitter and told them that they censor hunter biden story a few days before the election, is anything going to ge

so amazon and retail, facebook and social networking, google and search. and basically we're seeing a lot. busy of interest. busy regulators around the world to rein in some of that power and certainly what they see as accesses and abuses of that power. for really good to get your perspective in a freed chief technology correspondent at ac seals. the afghan taliban have rejected a decision by the us to transfer 3 and a half 1000000000 dollars and frozen assets to a swiss space trust which will then distribute the funds when needed in afghanistan . the taliban have demanded that the assets be sent directly to the afghans central bank. around $9000000000.00 of afghanistan's foreign currency is held by foreign banks. was frozen off to the taliban took over a couple last year in august. the u. s. government has face criticism for holding back afghan funds as the country faces wide spread, hunger and poverty. president biden set a policy of enabling $3500000000.00 worth of atkins, central bank reserves to be used for the benefit of the people of afghanistan, of

lisa: what about facebook, google, amazon?highflying tech names, we got to be careful. we have some exposure, but it is not an area that we are adding to right now. i think you have to be very careful on those because there is probably more downside if you continue to go higher on those. apple is probably a safer bet at this point in time. they just closed out their fiscal year over the weekend. from a we are seeing, they had a pretty strong year. a lot of people are waiting for apple to make the turn. i'm not sure we see that with the earnings coming out after the quarter ends. lisa: the torrey, i don't understand your parameters. the bullish sentiment that we year on the fringe of the shipping, what is underpinning your conviction that we get us close to a balance? victoria: we think a lot of it has to do with momentum we are seeing, the latitude signals out there. you look at a split cost ratio. we are surprised it isn't higher than where it is, but we want to see it continue to go higher. we are getting close to where we t

putting it on amazon and facebook for resale.it's no longer used to be you open your jacket, hey, guy, you want to buy stolen watches? now you go to one of the internet retailers and you can put your stolen merchandise on this. the critics argue they don't do nearly enough work in finding out in terms of where these items came from. so you have a toxic mix where liberal das and very permissive attitude by many of the internet stores leading to this mess. >> martha: there's zero account ability. that's a problem. the people that they catch from this wawa thing, they should have their picture and be arrested. should know who they are. they're asking for the parents to turn them in. i hope they have the wherewithal to do that. you've got companies leaving left and right, boeing, c caterpillar leaving chicago. here's the ceo of mcdonald's. watch. >> everywhere i go, i'm confronted by the same question these days. what is going on in chicago? while it may wound our civic pride to hear it, there's a general sense out there that our cit

tech among the standouts and it's the biggest of the big tech, the manaforts, the facebooks, the bgoogles, and amazons just named half of all etfs royal caribbean and bookings holdings, some or your biggest gainers there. booking holdings had the best insider buy of the week. speaking of big gainers check out shares of zscaler, sharply higher following a big beat on the top and bottom lines stock also getting several upgrades today including wells fargo naming it a top pick i'm here we've got to talk about energy energy stocks higher along with the price of oil, but oil overall still on track for a pretty rough week. a second straight week of losses no decision yet, by the way, from eu ministers on the possible price caps or some kind of tax on excess oil profits, but they did meet today to tray to solve this crisis overall, stocks, they are looking to snap their three-wee losing streak, but guggenheim's scott minor warning hige sees a big drop, maybe as much as 20% your next guest says not so fast he expects to recoup the 2022 losses by the end of the year, and he is barry nab ironside's economic man

apple up, amazon up 1%, meta/facebook up 1, alphabet up a third, microsoft up .2 of a percent.san: absolutely. it also shows wealthy shoppers still have the cash, and they're willing to spend it on the expensive leggings and at pleas. better sales, better.. -- profit. we talk about retailers in high inflation which means consumers aren't spending as much. not the case, they said inventories are actually less than a year ago and, in fact, they're under-inventoried due to supply-chain bottlenecks. as a result, they're raising their outlook for the year, and remember, this ises in contrast to nordstrom, macy's. lulu's store traffic, this was incredible to me, up 30% from last year. that shows that demand -- people want those legging, and they love hair spandex and lie lycra from lulu. ashley: well -- yeah. stu varney was just saying that last week. susan: right. and do we want to picture stu in lycra? ashley: no. susan: o.k.. ashley: god bless him. they named a new ceo at starbucks. what do we know about him, susan? susan: the he's the lysol brand box, he's a former pepsico consul

facebook. only one monetizaton model. microsoft, amazonfrom cloud services to what happens on consumer side, hardware, devices chips. these folks are doing different things and growing at double digits. charles: are you worried some of them hit a bump in the road? tesla in a range now but certainly down. nvidia hit one of its roughest patches but does that bother you at all? >> i'm not worried about nvidia in the long run. in the short time we have massive chip glut, pc user down, supply chain issues, export control issues. that will rectify itself. the world is moving to gpus, they're the heart and soul of every electronic device and heart and soul of commuters. this may be a good time to pick up nvidia i would wait a little longer. charles: i agree. i think there was serious overreaction there. apple made serious moves. first they changed privacy rules. crushed meta, snap, twitter, ones you talked about, one-trick pony names. they lost billions of business and market cap. now apple is aggressively building out the digital ad business. so

facebook specifically? is that what you're saying? is that how they should target it? guest: yeah. amazon is a very different platform from tiktok. n lumped together in terms of big tech. even the size and twitter versus facebook now it's meta, one big company. different rules should be crafted for the different technologies that the platforms represent. i think that's what's lost in the dialogue. the difference microsoft being more business to business related driven and cloud based than amazon is, for instance. that's one of the -- the differences our survey pulls out. the american people have different opinions and levels of trust based on what the company is and does. of course the justification and content moderation decisions, policymakers are talking a lot about content moderation rules. that runs into issues of free speech. our poll we asked americans about their notions and opinions on free speech. nine out of 10 believe free speech is important for a free society. then we also saw seven out of 10 americans thinking and believing that news media companies should be fined for biased or inaccurate information. which butts u

areas we do with knowledge and information and computing, obviously we compete with amazon, apple, microsoft, facebook and so on, emerging companies like tiktok and youtube. so i think it keeps growing, not even mentioning the competition from china, alibaba too. so there's so much investment in tech, it is hyper competitive with big tech companies too. >> on "tech check," we'll talk about that the conference is making a statement with the lineup this year andy jassy of amazon, bob iger from disney formerly, tim cook, secretary buttigieg, governor newsome, andit it's happening a we get two more dates for product announcements. apple will have a hardware event on october 6th, maybe some pixel phone, a pixel watch, and meta announcing a headset event on october 11th where it will perhaps get a headset. all of these new products are coming into an environment where people aren't necessarily sure how consumers receive it it will get interesting. >> yeah. a lot going on there, carl i was taken by those comments from pichai in terms of competition, given everything we know that's going on in the regulatory

checking their facebook pages and twitter feeds -- checking their facebook pages and twitter feeds. kumasi: california is suing amazoning the company stifles competition and increases presses people pay across the internet. amazon says these claims are false and they are pushing a judge to dismiss the lawsuit. reggie: in a "gma" first look, in the podcast "serial" the man at the center of the series could get a new trial. reporter: it was a story that captivated millions in the hit podcast "serial." annette syed -- accused of the murder of his high school girlfriend -- asking a judge to throw it out and relisting a 41-year-old saying the state no longer has confidence in the integrity of the conviction. they point to a nearly year-long investigation which uncovered key new evidence. coming up at 7:00 a.m., we will have much more on this developing story. kumasi: some san francisco libraries are about to get an upgrade. mayor london breed made the announcement yesterday. the city got $13.2 million to a state grant program. that will be used to renovate the mission and chinatown libraries. projects include restoring fe

amazon? i'm going to say that meta, which is the old facebook, i got so much in the hopper it might as well be a finance company and charging for what's app, instagram, there's a lot here. they're different enough to have auto, tech, retail and amazon web services, finance and apparel and i'm okay with that not great but okay with it next up is jenna in texas, jenna? >> boo-yah jim it's gina from texas google, oxy, merck, pioneer, alphabet and nvidia. >> health care here already, why don't we put -- remember you said lockheed martin, very big meeting. i don't know if it stops the stock from going down because there is a lot of interest in it and not a lot of people did the work gina hasdone the work. alphabet is inexpensive. fang name and then merck really good drug company. we're going to get rid of oxy and nvidia and alphabet being reduced as advertising, not kidding. this is a gaming company i'm willing to acre cemesemt act we made one change and that's all we need to do. let's speak to bill in alaska, bill >> hi, jim this is bill from anchorage, alaska my five stocks are amazon, apple, dev

mega cap has those, the amazons, the googles and maybe even a facebook the risk/reward is attractive.l like and would consider and still would be buyers of >> when it comes to google, to alphabet, it did kind of break below its june low it's certainly looking cheap relative to its own history and even to the market, if i you adjust for cash. is it macro concerns when it comes to the why of the underperformance >> this is meta? facebook >> i'm sorry, for google >> i think google has a little bit of a tougher angle two things you want to think about, they were a major beneficiary of the apple privacy changes that gutted online advertising, ad tracking tools that really helped google. google has benefited from the travel we went through the summer of travel love and google was a great derivative off that. now you will have tough comps going into the beginning of next year i'm not -- i don't like google the trade. i like google the investment meta is more interesting as the trade, not as much of an investment near term you will have an acceleration in revenue growth they will move beyond

twitch, owned by the amazon giant, in terms of views , it occupies three-quarters of the market 14% remain in youtube gaming 10 facebooking - this service belongs to meta, recognized in russia as extremist in russia, the position of twitch was even stronger than in the world as a whole, but six months ago it has become more difficult to work with him as a russian streamer, but more precisely, the service is less profitable, it still charges them the due fees for paid subscriptions of viewers only money. if now streamers do not reach russia. we are we think that these are some guys who are watched by millions there. they act in commercials and so on and on next yes they are, but besides them there are hundreds and thousands of streamers who are well, they are small, but at the same time they, uh, also give people pleasure and i initially these are these streamers, when others sites refused to monetize got most of all under the distribution. why, if you are a very small streamer, most likely, you combine e work and, well, your hobby, yes, that is, you still have a job if you are completely big streamer doesn't pay you fo

amazon, alphabet, microsoft, all down within 7% while facebook is down 12% the iphone isn't helping appleining us is james chockmock, partner of clockwise capital what do you say? want to buy low and sell high. i don't want to catch a falling knife. now they go down another 10% >> i think powell is more the problem than the solution. you know, going into this in our base case for 22, we will have a reception optically but now he's doing everything but throw the kitchen sink to ensure we have it so the calculus shifted after yesterday's meeting. the way we're thinking about it. the transformation and technology and shift to the cloud will persist no matter what and with that in mind we are looking at companies that are facilitating that change and by the shift of the cloud we're talking about either on the data side for legacy companies to the cloud or shifting consumer behavior and think there's a reason why adobe paid 50 times sales because it's a platform that defines the future and think we're grossing up those positions and increasing our shorts and hedges. >> you got me going with yo

control important communication platforms on twitter and facebook, they have reach and big tech that took down conservativ social media sites and amazonou squash free speech, 2020 was a fixed fight it marks i would say most shape shameful time in our history in as far as free speech. mark: is that why they don't want to talk about the 2020 election? these terms. ? putting aside machines and ballots is there any question that the media influenced that election? there were billions of dollars spend in what we call inkindy from contribution from media the way they would prop upped by everyone and sensor negative information and trash the hell out of trump. >> we heard when democrats come to power they will break up the companies, but why would they do that? social media companies like and facebook. where so much messaging goes on they are the best is super pacs they could hope for then covid asi expect, without covid donald trump gets elected. we were in peace and prosperous, bou -- biden was able to hide in his basement. i am glad you had me on to talk about it. mark: you deserve it, you are smart. you have integrity, you are objective,

amazon fire tv or google tv. now we check back in with facebook for the weekend forecast.about four more to go. mount tam, mid 60's. 70 and is san jose. it is pretty out there but temperatures into the 80's downtown. upper 60's and are in the valley. the south bay, at 100 an jose. 107 yesterday in gilroy. mid 90's to upper 90's on the peninsula. coming up, five to seven degrees today downtown with the weak sea breeze but keeping the beaches near 70's up to 80. 107 in santa rosa, 103 in napa. we are climbing, building on the heat of yesterday. as you look at the east, mid 90's up to upper 90's. we could even see a few triple digits. you get and lend, the heat is well over 105 today. 110 unconquered. spare the air alert, dangerously hot. we are looking at this excessive heat warning to last into thursday, potentially into friday. here is a look at high temperatures around the bay sponsored by disney plus day streaming september 28th. >> my friends -- ♪ >> i have no idea what is in store for us. [laughter] ♪ >> that was very, very impressive. ♪ want a permanent solution to ho

look at what facebook is doing, they have layoffs, walmart, ford, 3m, credit suisse, what is going on? amazon. why are these companies cutting back? neil: 11 million available jobs. >> it's real estate, it is all about location. when you look where these job numbers are going, where were jobs growing and where are jobs shrinking? it could be two different places. to me, amazon cutting back, that's a troubling sign. neil: what do you think? >> the productivity numbers are not good. if you look at the fact that people are not taking jobs, that is not good. it means inflation is high and wages aren't keeping up with it and it forces the fed to slow things down. neil: that is the realization. charles: don't be surprised if we get stagflation for a while too. neil: you and i lived through it, he's too young. charles: we had two quarters of negative gdp growth. neil: job growth of 300,000 or we don't have that and we might get it. >> nothing like what we got with jimmy carter. it wasn't a straight line down. >> you see these big employers reducing jobs and the question is why. facebook is proving t

amazon. and, i by the way, with meta, formerly known as facebook, its plunge so far year, you know, mark zuckerberg lost over $73 billion in personal wealth so far this year, and that has sliced his wealth by more than half. now, you shouldn't cry for him because he's still worth $50 billion or so. zuckerberg's meta joining the list of other companies reportedly cutting staff and head count, losing around 10% this week. now, we know that snap, coinbase, peloton, tesla, caravan that, jpmorgan and robinhood are also among the names laying off workers. for now, the jobs market broadly is still strong is. you still have two jobs for every applicant, but there's talk that there will be a catch-up effect, and it's also not a good indication for the direction of the economy if you're losing these high paying, white $jobs. now -- white collar jobs. the main concern is what the central banks are doing, and the federal reserve being frank and stark this week. they are going to cut and raise interest rates, paroled her, to levels -- pardon me, where they can kill 40-year-i high inflation. add to that concerns

amazon, apple, meta platforms. $144. zuckerberg has lost 70 one billion dollars of his wealth because he invested in facebook, meta-blooge> that is a lot of money. stuart: it doesn't matter. you lost 70. thanks very much, you stay there for the hour please. to alert everyone, president biden is addressing the united nations general assembly. we will bring you the highlights and headlines as we proceed. lauren is with us, movers including airbnb. lauren: not just guests complaining about the fees but hosts complaining and sharing their horror stories on social media. why is this important? that is the market. airbnb is largely unregulated. there are reports they have a crisis team and try to sweep up these nightmares the hosts complain about, the unauthorized parties, messes, guests who will leave. the stock is down 2.5. stuart: you've got a real problem. fr frearmakes batteries and they are up 13%. lauren: electric vehicle batteries and adam jonas name topics as the price doubled to $26 and an awful case scenario going up to $60, 350%, a beneficiary of the inflation reduction act. stuart: market is shaking his head. you

facebook, twitter, youtube, microsoft planning to attend. the company's efforts will be unveiled alongside initiatives to address hate-fueled violence. meantime, hundreds of workers at an amazonehouse in england are striking overpay. they have been threatening strikes across the u.k. after a major rise in the cost of living and protesting against pay packages, likely to take place in november, according to the union. the use cable open and in-depth probe of microsoft 69 billion-dollar purchase of activision blizzard. regulators save the deal could hamper competition, and microsoft turned down the chance to address its concerns. if the merger goes through, it will make microsoft the world's third-largest gaming company. we will be right back. this is bloomberg. ♪ emily: a brazilian agricultural company is planning to list in the u.s. via spac with one of the most prominent climate tech entrepreneurs. it offers key ingredients like seeds, fertilizer, and more. i want to get to a longtime founder and investor focus on climate technology, the ceo of the production board, which does merge with lavaro. great to have you with us. big listener here. talk about the thesis behind this

amazon has been doing well. clearly, this field is getting crowded. meta's problem is not only are they losing engagement, the time spent on meta, instagram and facebooks declining. even though their daily active user growth is holding of, time spent is declining. add pricing is going down. that is a double whammy. that is what pivoting to videos is -- the wrong time because they are behind tiktok and other platforms and it is going to take more time. they do not have the creative base tiktok as. -- is going to eat into their growth margins. a lot of problems in terms of making this pivot now. they should have done that before. ed: the battle for eyeballs continues. thank you to you both. coming up, an alkyl -- apple executive ousted. this is bloomberg. ♪'s zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, which saved investors over $1.5 billion last year. that's decision tech. only from fidelity. ed: more bad news for apple. shares plunged by 6% thursday, wiping $120 billion from its market value bloomberg has learned one of the company's senior executives is leaving after a tiktok emer

facebook. we were an early investor in amazon but we sold our stock too soon.carlisle has made thousands of investments over the years. we have been around for 35 years. if you do not have bad deals you are not doing good investing, because not everything works out even forewarn buffet. >> the governor of virginia, glenn youngkin. >> he was at our firm for about 25 years. it did a very good job for us. >> frank, daytona beach, florida. >> i am calling it because i went to ask you if you think that nonfiction or fiction literature is more important to society, and as a follow-up, what is your favorite fictional book? >> i tend to read more nonfiction than fiction to be honest, but i cannot say that fiction is insignificant. fiction books have had more impact on society than many other nonfiction books. uncle tom's cabin had an enormous impact on society. i think gone with the wind had an important impact on society as well. fiction books have done incredible things to change the attitudes of society. nonfiction books have a big impact as well. >> how to invest,

amazon. dagen: a gunman in benefits killed four people in a shooting rampage, live streamed on facebook.heryl casone has the details and. >> they caught 19-year-old is equal kelli in custody for the serial shootings which left four dead, three hurt across a crime scene, 24-year-old man, 1:00 a.m. another gunned down 4:00 p.m. at a gas station a woman shot a moment later on a nearby road, he documented the murders and videos posted to facebook. also 1400 runners plan to finish murdered jogger eliza fletcher's route, she was kidnapped and she finished her morning run, her body discovered monday. her friends organizing eight-point to mile run this friday to mark the moment she was abducted, they will begin at 4:20 a.m. they plan to emphasize women should be able to run safely anytime of day, the suspect has been charged with first-degree murder. the canadian suspect in a series of failed knife attacks has died miles sanderson the second of two brothers to carry out the stabbing spree that left ten people dead in the canadian profit of saskatchewan died after police took him into custody and

facebook ahead of the november election. this is "today in the bay" streaming live on roku, amazon fire, apple tv and online. good wednesday morning to you. thanks so much for starting your day with us. i'm laura garcia. >> and i'm marcus washington. >>> there's a lot to get to this morning. we start out in florida. a sleepless night for millions as hurricane ian inches closer to the coast. overnight it became a category 4 storm. the storm surge is already proving to be dangerous and problematic. this video is from key west where the water is already rising. you can see a tesla -- can you make it out? it's under water. the damage is being felt. ian is hours away from making landfall. >> hurricane ian left a trail of devastation in cuba. take a look at this. the entire country in dark when that storm came, knocking out cuba's entire power grid. the entire state of florida under a state of emergency. >> joining us is chase kaine. what are you seeing there this morning? >> reporter: we are just starting to get the early bands of hurricane ian. the winds have picked up and the rains have picked up. when you see